All Banks said they would not consider a Mortgage loan for my property

The loan officers said this would be because of their liability on the property.

March 15, 2014

In the Spring of 2013 I attended a meeting at the Chenango/Delaware Gun Club. Members of the gun club and representatives of the group Stop the Constitution Pipe Line were in attendance.

During the meeting several distressing possibilities that could arise affecting my property, if indeed the pipeline was approve and built. One possibly would be if I attempted to sell my property with a pipe line lease and pipe line on my property a buyer of my home would not be able to secure a mortgage for the property. As a result of that statement I contacted and met with the loan officers of SFCU, Community Bank and NBT Banks of Sidney. All Banks said they would not consider a Mortgage loan for my property if indeed a pipe line lease and pipe line existed on this property. The loan officers said this would be because of their liability on the property.

I also attended a town meeting in Masonville, NY last summer, in 2013. I asked them if they would consider the possibly of lowering my property taxes because of the devalued value of the property and the inability to sell my property because of the pipe line on the property. The Town Board said they would consider it but would not address it at this time because it is only a proposed event.

This leaves me with several possibilities to consider. Live next to a 30 inch pipe line that I do not want and has a history of explosions in other areas of the Country. Sell my house at a devalued amount or go through the expense of subdividing my property into two tax deeds - one with the pipe line and leased property and the other with my home with less property, because of the subdivision.

Please take the time to consider what impact this will have on me and other home owners in the affected area.

About

Williams and Cabot, are proposing to build the Constitution pipeline through our lawns, fields, forests, wetlands and streams. People from along the proposed route – all 120 miles from Pennsylvania to Schoharie County – have formed a coalition to try to stop them. We invite you to join us